Sec. 1203. DEFINITIONS
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## SEC. 1203 DEFINITIONS **[**[12 U.S.C. 5622](/us/usc/t12/s5622)**]** In this title, the following definitions shall apply: ####
(1)Account The term “**account**” means an agreement between an individual and an eligible entity under which the individual obtains from or through the entity 1 or more banking products and services, and includes a deposit account, a savings account (including a money market savings account), an account for a closed-end loan, and other products or services, as the Secretary deems appropriate. ####
(2)Community development financial institution The term “**community development financial institution**” has the same meaning as in section 103(5) of the Community Development Banking and Financial Institutions Act of 1994 (12 U.S.C. 4702(5)). ####
(3)Eligible entity The term “**eligible entity**” means— #####
(A)an organization described in section 501(c)(3) of the Internal Revenue Code of 1986, and exempt from tax under section 501(a) of such Code; #####
(B)a federally insured depository institution; #####
(C)a community development financial institution; #####
(D)a State, local, or tribal government entity; or #####
(E)a partnership or other joint venture comprised of 1 or more of the entities described in subparagraphs
(A)through (D), in accordance with regulations prescribed by the Secretary under this title. ####
(4)Federally insured depository institution The term “**federally insured depository institution**” means any insured depository institution (as that term is defined in section 3 of the Federal Deposit Insurance Act (12 U.S.C. 1813)) and any insured credit union (as that term is defined in section 101 of the Federal Credit Union Act (12 U.S.C. 1752)).
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